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The following table shows the cost and revenue data for Molly the monopolist. Quantity per Total Marginal Marginal Period Price Revenue Revenue Cost Total Cost
The following table shows the cost and revenue data for Molly the monopolist. Quantity per Total Marginal Marginal Period Price Revenue Revenue Cost Total Cost $31 $ O $5 30 30 30 tA 25 30 2 29 58 28 22 52 3 28 34 26 18 70 27 108 24 13 83 26 130 22 22 105 25 150 20 23 128 24 168 18 24 152 23 184 16 25 177 22 198 14 27 204 a. Complete the table above. b. What are Molly's profit-maximizing output and price, and what will be the amount of her profit? Output: 5 Price:$ 26 Profit: $ 25 c. Suppose that the demand for Molly's product increased by three units at every price level. Complete the table below.c. Suppose that the demand for Molly's product increased by three units at every price level. Complete the table below. Quantity per Total Marginal Marginal Period Price Revenue Revenue Cost Total Cost 3 $31 tA 93 / +A 4 30 120 +A 27 5 29 145 25 6 28 168 23 27 189 21 26 208 19 9 25 225 17 24 23 22 d. What will be her new profit-maximizing output and price, and what will be the amount of her profit? Output: Price: $ Profit: $
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